Vietnam's national brand reached 431 billion dollars on Thursday to rank among the fastest-growing nations globally, a government source stressed in Hanoi.

Hanoi.- The value of Vietnam’s brand increased by 74 percent from 2019 to 2022, said Hoang Minh Chien, Deputy Director of the Department for Trade Promotion at the Ministry of Industry and Trade, citing a report by Brand Finance.

If Vietnam’s national brand was valued at 247 billion dollars by 2019, it rose to 319 billion dollars by 2020 and reached 388 billion dollars in 2021. The brand is valued at 431 billion dollars in 2022.

In that way, the country jumped from 42nd position in 2019 to 32nd in 2022, Minh Chien said, quoted by VNA news agency.

Brand Finance also reported that Vietnam’s top 50 brands recorded a growth rate of 36 percent, which compares favorably with those in Singapore and Indonesia (22), India (16), Malaysia (10), China (6), Japan (5) and Thailand (4). (PL)